THQ Reports Q3 EPS of $.37 vs. $.26

THQ Inc. THQI today announced financial results for the three months ended December 31, 2010, that exceeded the company's guidance due to strong sales of its new uDraw GameTablet. For the fiscal third quarter ended December 31, 2010, THQ reported net sales of $314.6 million, compared with $356.7 million in the prior-year period. On a non-GAAP basis, for the three months ended December 31, 2010, the company reported net sales of $323.1 million, compared with $357.0 million a year ago. For the three months ended December 31, 2010, the company reported a net loss of $14.9 million, or $0.22 per share, compared with net income of $542,000, or $0.01 per share, in the prior-year period. On a non-GAAP basis, the company reported net income of $28.5 million, or $0.37 per share, compared with net income of $26.6 million, or $0.35 per share, in the same period a year ago. Fiscal 2011 and 2010 third quarter non-GAAP earnings per share would have been $0.42 and $0.39, respectively, if the company had not been required to use the “if-converted” method of calculating earnings per share.